A Data Asset Income Rights Management and Trading System and Method Based on Value Code

Abstract

This invention belongs to the field of data assetization and digital rights trading technology, specifically involving a data asset revenue rights management and trading system and method based on value codes. This invention aims to utilize technologies such as digital coding, smart contracts, and blockchain to standardize, refine, and reliably trade the revenue rights of data assets, achieving full lifecycle control and market-based circulation of data asset revenue rights, and providing a systematic solution for building a compliant, efficient, and secure data element market. This invention uses value codes as a measure of human value, constructing a standardized value measurement benchmark in the digital economy space. The system achieves precise normalization of revenue rights by introducing a log-normal distribution operator to map the potential revenue expectation value of data assets to energy levels; simultaneously, it integrates the Milgrom information value equation, dynamically determining the revenue allocation weight by quantifying the marginal improvement of the expected utility of value code data for business decisions; finally, it uses the Nash algorithm to solve the Pareto optimal strategy set for multi-party transaction games, ensuring the pricing fairness and system resistance to manipulation during the data element circulation process.

Description

Technical Field

[0001] This invention belongs to the field of data assetization and digital rights trading technology, specifically relating to a data asset income rights management and trading system and method based on value codes. Background Technology

[0002] With the deepening development of the digital economy, data has been established as a key factor of production. Data assetization—that is, transforming data into measurable, tradable, and economically beneficial resources through data ownership confirmation, pricing, accounting, and trading—has become a crucial path to unlocking data value and empowering the real economy. Among these, the management and trading mechanisms of data asset revenue rights are particularly important, as they serve as the core rights carrier for realizing data asset value. However, current practices in the management, transfer, and trading of data asset revenue rights still face numerous technical bottlenecks and challenges, with existing technical solutions exhibiting significant shortcomings in standardization, automation, security, and reliability.

[0003] (I) Traditional Data Asset Management and Rights Confirmation Technologies Traditional data asset management largely relies on centralized database systems and manual review processes. The registration, ownership confirmation, and value assessment of data assets are highly dependent on manual operations and offline agreements, resulting in cumbersome, inefficient, and costly processes. For derivative rights such as data asset revenue rights, traditional technologies struggle to achieve standardized definitions and precise segmentation. The generation, allocation, modification, and cancellation of rights lack unified, machine-readable digital representations, leading to unclear rights relationships, chaotic management, and a high risk of disputes. Furthermore, traditional systems inherently lack guarantees regarding the authenticity, uniqueness, and immutability of data assets and revenue rights, relying on the credit endorsement of centralized institutions, which introduces single points of failure and trust risks. To address these shortcomings, this invention proposes a value code as a measure of human value. The core principle of this invention lies in the fact that data assets are essentially a digital condensation of human labor and wisdom. Through the value code, the system establishes a 'physical-level' value benchmark that transcends heterogeneous systems and industry barriers. The value code is not only a carrier of revenue rights, but also a mathematical operator that can evolve on its own and dynamically reflect the contribution of data elements, thus providing a logically complete axiomatic system for the 'confirmation of rights, pricing, and profit sharing' of data assets.

[0004] (ii) Existing data trading platform technology In recent years, various data trading platforms have emerged, attempting to provide a trading venue for data and data products. Existing platform technologies primarily focus on the direct buying and selling of raw data or processed data products, with transaction models often involving the one-time transfer of "data packages." Support for the separation and independent trading of future cash flows—i.e., revenue rights—generated from the continuous operation of data assets is generally insufficient. While existing platforms have partially introduced electronic contracts in transaction matching, clearing and settlement, and delivery, the specific content, allocation rules, triggering conditions, and execution methods of revenue rights still rely on traditional legal text descriptions, lacking an automatically executable digital contract mechanism embedded within the trading system. This results in the need for significant manual intervention in the realization of rights after a revenue right transaction, failing to achieve "transaction as performance," and limiting transaction efficiency and compliance assurance levels.

[0005] (III) Blockchain-based digital rights management technology Blockchain technology, due to its decentralized, immutable, and traceable characteristics, has been explored for application in areas such as digital copyright and digital collectibles management. Related technical solutions typically generate unique identifiers (such as hash values ​​or NFTs) for specific digital content and anchor them to the blockchain to confirm ownership. However, this type of technology has significant limitations when applied to the management of data asset revenue rights: The connotation of rights is too simplistic: Existing blockchain digital rights (such as NFTs) mainly represent ownership or access rights. Their rights structure is relatively simple and fixed, making it difficult to bear the complex and dynamic rights relationships contained in the revenue rights of data assets, such as multi-level profit sharing, condition-triggered, and linked to the operational status of the underlying data assets.

[0006] Lack of a value assessment and coding system: Current technologies lack a mechanism for standardized assessment and coding of the intrinsic value of data asset revenue rights. The value of revenue rights depends on multiple dynamic factors such as the quality of the underlying data assets, application scenarios, market demand, and future revenue expectations. A scientific "value code" system is needed to quantify and dynamically update this value, but current blockchain rights solutions lack this element.

[0007] Insufficient on-chain and off-chain collaboration: Effective management of data asset revenue rights requires reliable correlation and verification between on-chain equity certificates and off-chain data asset operational status (such as usage volume and revenue amount) and actual cash flow. Existing solutions still face technical challenges in achieving secure, efficient, and automated synchronization between trusted on-chain certificates and off-chain real-world states (Oracles), easily creating "information silos" that cause on-chain equity certificates to become detached from actual value support.

[0008] The conflict between privacy protection and compliant transactions: Transactions involving data assets and their revenue rights involve sensitive business information and personal privacy. Existing public blockchain solutions offer high transparency but poor privacy, making it difficult to meet the requirements for protecting trade secrets. While some consortium blockchain solutions have explored privacy-preserving computation (such as homomorphic encryption and zero-knowledge proofs), their technology is highly complex, and it remains to be seen how to seamlessly integrate them with business logic such as pricing, trading, and settlement of revenue rights to form a complete and user-friendly solution.

[0009] (iv) Application of smart contracts in financial equity Smart contract technology has already been applied in financial sectors such as supply chain finance and bond issuance to achieve functions like conditional payments and automated settlement. Introducing it into data asset revenue rights management is a natural approach. However, directly applying existing financial smart contract templates faces compatibility issues: Special characteristics of the subject matter: The subject matter of data asset revenue rights is non-physical, dynamically changing data value. Its valuation model and risk characteristics are very different from traditional financial assets (such as bonds and accounts receivable), requiring the design of a completely new contract logic and parameter system.

[0010] Contract complexity: Smart contracts that describe the revenue rights of data assets need to cover multiple complex modules such as rights creation, value assessment (introducing value codes), status query (connecting to data operation Oracle), revenue calculation, automatic allocation, rights transfer, and dispute resolution. Their development difficulty, security audit costs, and execution gas consumption far exceed those of simple transfer contracts.

[0011] Law and technology coupling: Smart contracts for data asset revenue rights need to be deeply coupled with existing laws and regulations (such as the Data Security Law, the Personal Information Protection Law, and accounting standards) to ensure the legality and validity of contract terms. How to translate legal provisions into precise and unambiguous code logic, and ensure that the code execution results are judicially recognized, is a challenge that current technology has not yet adequately addressed.

[0012] (v) Application of existing privacy computing technologies in data transactions To address privacy concerns in data transactions, privacy-preserving computation technologies (such as secure multi-party computation, federated learning, and trusted execution environments) are being applied to achieve federated computation where "data is usable but not visible" or "data does not leave its domain." However, these technologies primarily focus on the computational process of the data itself, rather than the management of revenue rights after data assetization. Existing privacy-preserving computation platforms: Disconnected from the assetization process: While focusing on protecting the privacy of raw data during computation, it lacks backend support for the standardized confirmation, registration, and trading of the value generated by the computation (i.e., potential revenue rights). How to assetize the value after computation and how to allocate rights often revert to traditional manual processing.

[0013] Lack of rights transfer mechanism: The platform is usually designed to complete a single multi-party secure computation task. It does not have a built-in standardized trading market and transfer protocol for data asset revenue rights, and cannot support multiple and multi-handed transactions of revenue rights as independent digital assets.

[0014] Poor cross-platform interoperability: Different privacy computing platforms use different technical protocols and architectures, making it difficult for the value or rights of data generated on one platform to be identified, verified, and traded on another platform, thus creating new "value silos".

[0015] Existing technologies have explored data management, trading platforms, blockchain-based rights confirmation, smart contract financialization, and privacy computing, but none have systematically solved the core problems of standardized digital representation (value code), automated lifecycle management, and secure, reliable, and efficient transactions of data asset revenue rights. The market urgently needs a comprehensive technical solution that integrates value assessment coding, automated smart contracts, trusted blockchain notarization, off-chain state verification, and privacy and security considerations to truly promote data asset revenue rights as widely circulated digital financial assets. This invention addresses these technological gaps and challenges. Summary of the Invention

[0016] The technical problems that need to be solved in this invention are: To address the lack of standardized and structured digital representation of data asset revenue rights during management and trading, which leads to vague definitions of rights, difficulty in accurate measurement, and automation; To address the issues of low automation, reliance on manual operation, inefficiency, and susceptibility to errors in the management of data asset revenue rights throughout their entire lifecycle (including registration, confirmation of rights, valuation, issuance, transfer, revenue distribution, liquidation, and cancellation); This addresses the issues of insufficient credibility, opaque transaction chains, asynchronous delivery and settlement, and high default risk caused by reliance on offline execution for post-transaction rights realization in the data asset revenue rights transaction process. The solution is to quantify and encode the potential value of data assets (such as expected future revenue) through reliable technical means (forming a "value code"), and enable the "value code" to dynamically reflect the operational status of the underlying data assets, thereby serving as the core basis for pricing, trading and settlement of revenue rights; The challenge lies in balancing the need for transparency in transactions with the need to protect the privacy of sensitive information such as the data assets themselves, the identities of the transacting parties, and the details of the transactions, while promoting the circulation of data asset revenue rights.

[0017] To address the aforementioned problems, this invention provides a data asset revenue rights management and trading system and method based on value codes. First, a multi-layered system architecture integrating blockchain, smart contracts, and off-chain computing services is constructed. The core of this system is the creation and management of a standardized digital rights certificate called a "value code." This value code is dynamically generated through a specific algorithm and encodes the core elements, value assessment parameters, and status information of the data asset revenue rights. The system automatically executes revenue rights management rules and trading contracts through smart contracts, utilizes blockchain to ensure the immutability and traceability of data throughout the entire process, and employs privacy computing technology to guarantee data confidentiality at specific stages. Ultimately, this achieves fully digital, automated, and trusted management and trading of data asset revenue rights from generation to cancellation.

[0018] The data asset income rights management and trading system based on value codes includes the following modules: The Value Code Generation and Management module receives income right issuance applications submitted by data asset holders, assesses the income potential of the underlying data assets based on a pre-set value assessment model, and generates a unique "Value Code" to identify the income right. The data structure of this Value Code includes at least: a unique income right ID, a hash identifier of the underlying data asset, the issuer's identity, the type of income right, the total equity share, the initial assessed value, value adjustment parameters, income distribution rules, the current status, and historical transaction hashes. The Value Code is stored on the blockchain as a digital certificate.

[0019] The smart contract engine module, deployed on the blockchain, incorporates various standardized contract templates to automatically execute operations associated with the value code. These primarily include: a revenue rights issuance contract, responsible for verifying issuance conditions and minting value code certificates; a revenue rights trading contract, responsible for order placement, matching, transaction confirmation, and the transfer of value code ownership; a revenue distribution contract, which automatically calculates and distributes revenue to the current rights holder based on predefined rules (such as proportional or based on usage volume) and off-chain verified operational data; and a state management contract, responsible for automatically triggering value code state changes based on business rules (such as expiration or default).

[0020] The off-chain operational data access and verification module, acting as a blockchain oracle service, is responsible for securely acquiring actual operational data of underlying data assets from off-chain data sources (such as data service platforms and payment systems), including API call counts, data usage, and actual revenue generated. After verifying and formatting the acquired data, this module securely transmits it to on-chain smart contracts, serving as the basis for triggering revenue distribution, adjusting value code evaluation parameters, or determining contract conditions.

[0021] The privacy-protected transaction and settlement module integrates privacy computing technology to protect commercially sensitive information during transaction matching and settlement. In the transaction intention matching stage, encrypted matching technology can be used; in the transaction settlement stage, homomorphic encryption and other technologies are supported for encrypted calculation of transaction amounts, fees, etc., ensuring the correctness of the settlement process without disclosing plaintext information. This module works in conjunction with the smart contract engine to ensure that transactions under privacy protection are ultimately and reliably completed on-chain clearing, settlement, and ownership transfer.

[0022] The user interaction and regulatory service module provides web and API interfaces for different roles such as data asset holders, investors, and regulatory agencies, enabling operations such as issuing, browsing, trading, and viewing revenue rights. It also provides a regulatory interface, allowing regulators to conduct thorough audits of on-chain transaction records, value code status, and fund flows based on their permissions, ensuring the system's compliant operation.

[0023] Preferably, in the value code generation and management module, the value assessment model adopts a multi-factor dynamic weighted algorithm, and its input parameters include at least: data asset quality score, historical revenue data, market demand index, compliance rating, and real-time or near-real-time operational indicators provided by the off-chain operational data access module. Specifically, this system recognizes that the revenue potential of data assets follows a log-normal distribution. This is because in the data element market, a small amount of high-quality data often contributes the vast majority of value. Let the original quality score sequence of the data asset be... The system performs the following transformations to generate the value code energy levels: First, it calculates the logarithmic energy level projection: Secondly, define the 'value code energy density' function for this asset. : Parameter definition: (Logarithmic mean) represents the benchmark value center of this data industry (such as finance, healthcare); The (logarithmic standard deviation) represents the scarcity and potential for explosive growth of this data asset. The final generated value code's benchmark value: This model ensures that when representing revenue rights, the value code can both take into account the long-tail value of massive amounts of ordinary data and accurately capture the energy burst points of core high-value data. The "value adjustment parameters" of the value code are a set of programmable rules that allow the benchmark value adjustment of the rights represented by the value code to be automatically triggered based on specific operational events verified on the chain (such as the daily call volume exceeding a threshold), realizing the dynamic link between the value code and the operational status of the underlying asset.

[0024] Preferably, in the smart contract engine module, the execution flow of the revenue distribution contract is designed to be event-driven. When the off-chain operation data access module pushes verified revenue cycle data to the blockchain, the "revenue arrival" event is triggered. After the revenue distribution contract detects this event, it automatically reads the current value code holder register and the preset distribution ratio, calls the payment channel contract or interfaces with compliant payment institutions to complete the automatic transfer of revenue, and writes the distribution record as a transaction to the blockchain, updating the status information of the value code.

[0025] Preferably, the off-chain operational data access and verification module adopts a multi-node decentralized oracle network architecture. For the same data source (such as the revenue report of a data platform), multiple independent oracle nodes obtain the data separately, and aggregate and verify the data through a preset consensus mechanism (such as median or weighted average). Only data that reaches consensus is signed and sent to the blockchain. This measure aims to prevent single-point data tampering or the provision of erroneous data, and ensure the authenticity and reliability of off-chain information input into smart contracts.

[0026] Preferably, the privacy-protected transaction and settlement module supports modes such as "blind bidding" or "reserve price not disclosed" during the transaction matching stage. Potential buyers can submit a ciphertext offer processed with homomorphic encryption or a commitment scheme. Without decrypting the offer, the smart contract uses a ciphertext comparison algorithm (such as utilizing a secure multi-party computation protocol) to determine whether it is better than the current best offer or meets the seller's reserve price conditions. Only upon final settlement is the necessary information revealed in a controlled environment to complete the settlement, thereby effectively protecting the pricing strategies and other trade secrets of both parties.

[0027] The data asset income rights management and trading method based on value codes, applied to the above system, includes the following steps: Step 1. The data asset holder submits an application for the issuance of revenue rights to the system. The value code generation and management module calls the value assessment model, combines on-chain and off-chain data to generate a dynamic "value code" digital certificate, and completes the issuance registration on the blockchain through a smart contract.

[0028] Step 2. The issuer publishes a transaction offer through the system, listing some or all of the value code equity shares for sale. The transaction information (except for sensitive and privacy-related parts) is publicly available. Investors discover investment opportunities.

[0029] Step 3. Buyers and sellers match quotes through the privacy-protected transaction and settlement module. While protecting the privacy of both parties' quotes, a smart contract verifies the transaction conditions and completes the matching process.

[0030] Step 4. After a successful transaction matching, the transaction contract and settlement process are triggered. Under the protection of privacy computing technology, the settlement of funds and value code shares is completed. The smart contract automatically executes the transfer of value code ownership and permanently records the transaction results on the blockchain.

[0031] Step 5. During the revenue cycle, the off-chain operation data access and verification module continuously acquires and verifies the operation revenue data of the underlying data assets, and periodically triggers blockchain events with the verified data.

[0032] Step 6. The revenue distribution contract in the smart contract engine listens for the events generated in Step 5, automatically calculates the revenue due to each equity holder according to the distribution rules encoded in the value code, and drives automatic payment to complete the revenue distribution.

[0033] Step 7. When the value code's lifecycle ends (e.g., expires, or the underlying asset becomes invalid), the state management contract automatically marks its status as "cancelled," and the relevant records are permanently stored on the blockchain for auditing purposes.

[0034] Beneficial effects Standardization and automation improve efficiency: By introducing a structured "value code" as the digital carrier of revenue rights, the standardized definition and machine readability of rights are realized, enabling the entire process from issuance and trading to revenue distribution to be executed automatically through smart contracts. This greatly reduces human intervention, lowers operating costs and error rates, and significantly improves management efficiency and transaction speed.

[0035] Dynamic Value Discovery and Trustworthy Transactions: The "Value Code" incorporates a dynamic evaluation mechanism that responds to real operational data verified off-chain, making the pricing of revenue rights closer to market value. Combining the immutability and traceability of blockchain, it ensures the authenticity of rights certificates, the transparency of the transaction process, and the final certainty of the outcome, constructing a highly trustworthy transaction environment and reducing trust costs and default risks.

[0036] Balancing privacy protection and regulatory compliance: By integrating privacy computing technology, the system can protect the sensitive business information of participants at key stages of transactions, addressing enterprises' privacy concerns in data asset transactions. Simultaneously, the core hashes, fund flows, and ownership change records of all transactions are publicly auditable, providing regulatory agencies with an effective tool for transparent oversight and promoting the compliant and healthy development of the market.

[0037] Activating the Liquidity of Data Asset Value: This invention provides a secure, efficient, and standardized digital trading market for data asset revenue rights, enabling the future revenue of data assets, which were previously difficult to circulate, to be divided into standardized shares for circulation. This helps broaden the financing channels for data holders, provides investors with new asset classes, effectively revitalizes the value of data elements, and promotes the formation and growth of the data element market. Technological Integration and Ecosystem Compatibility: This invention is not an isolated system. Its designed value code standard, smart contract interface, and oracle mechanism have the potential to interface with existing blockchain infrastructure, data service platforms, and traditional financial systems, facilitating the construction of a cross-platform, cross-ecosystem collaborative network for data assetization. Detailed Implementation

[0038] This invention primarily addresses the problems of lack of standardized digital representation for data asset revenue rights during management and trading, low automation of full lifecycle management, insufficient transaction credibility, difficulty in dynamic value assessment, and the challenge of balancing privacy protection and regulatory compliance. To more clearly describe the technical solution of this invention, specific implementation methods are detailed below with reference to the system architecture and business processes. The core of this invention lies in constructing a management and trading system that uses "value codes" as standardized digital rights certificates and deeply integrates blockchain smart contracts, off-chain oracle verification, and privacy computing technologies.

[0039] The data asset revenue rights management and trading system based on value codes proposed in this invention is implemented as follows: First, the system transforms the future revenue rights of data assets into structured digital certificates through the value code generation and management module. Then, relying on the smart contract engine module on the blockchain, it automatically executes the rules for the issuance, circulation, revenue distribution, and status management of these certificates. Simultaneously, through the off-chain operational data access and verification module, the system securely and reliably synchronizes the real-world operational status of data assets to the blockchain, triggering the execution of relevant contracts. Finally, with the help of the privacy-protected transaction and settlement module, sensitive information of participants is protected in key business processes. Furthermore, through the user interaction and regulatory service module, it provides operation entry points and compliance audit tools for various users, ultimately achieving digital, automated, and trustworthy management and market circulation of data asset revenue rights throughout their entire lifecycle.

[0040] The system's architecture adopts a layered model, comprising, from bottom to top, an infrastructure layer, a core protocol layer, a service function layer, and an application interaction layer. The infrastructure layer consists of a blockchain network, decentralized storage, and an oracle node network, providing fundamental capabilities for trusted computing, data notarization, and off-chain information verification. The core protocol layer defines the data structure standard for value codes, the interaction interface specifications for smart contracts, and the application protocol for privacy computing, serving as the cornerstone of the entire system's interoperability and scalability. The service function layer integrates core business modules such as value code generation, contract engine, data verification, and privacy settlement, encapsulating specific business logic. The application interaction layer presents specific business functions to data providers, investors, and regulatory agencies through web portals, mobile applications, and API interfaces.

[0041] The value code generation and management module is the starting point for system operation and the core of rights digitization. When a data asset holder (hereinafter referred to as the "issuer") wishes to transfer a certain data asset (e.g., a de-identified commercial dataset, a predictive analytics API service) to another party, the module can be used to manage and distribute the value code. When a user wants to sell the revenue rights of a service or a data intelligence model for a future period, they can initiate a revenue rights issuance application through the system user interface. The application must include detailed information, including but not limited to: a detailed description of the underlying data asset (name, type, sample hash, coverage area, etc.), a compliance statement and relevant certifications of the data asset, the total expected number of revenue rights to be issued, the basic equity unit corresponding to each revenue right (e.g., one ten-thousandth of the corresponding data service revenue), the duration of the revenue right, the expected annualized rate of return range (if any), and the calculation method and cycle for revenue distribution (e.g., quarterly distribution based on actual API call revenue). After the issuance application is submitted, the value code generation and management module does not immediately generate a certificate, but instead initiates a multi-party collaborative value assessment and confirmation process.

[0042] The valuation process involves collaboration between on-chain and off-chain components. First, an initial valuation model built into or invoked by the module performs a preliminary analysis of the application information. This model is a multi-factor weighted calculation model, whose input parameters include at least: a data asset quality score (which can be automatically or semi-automatically scored based on historical accuracy, completeness, timeliness, etc.), the issuer's credit history (such as past issuance and performance records within the system), historical trading prices and liquidity indicators of similar data assets or revenue rights in the market, and a current market demand index obtained from off-chain data sources (which can be quantified through specific keyword search trends, industry report data, etc.). The preliminary assessment will generate a suggested value range or benchmark price. More importantly, the system supports the introduction of third-party professional valuation agency nodes. These agencies, as certified oracle service providers, can receive detailed information from the issuer (potentially through secure offline or privacy-preserving computation channels), issue professional valuation reports with digital signatures, and submit the hash values ​​or structured data summaries of the report's key conclusions (such as assessed value and risk level) to the blockchain. The value code generation and management module integrates the output of the internal model with the evaluation results of external institutions, and determines the final "initial evaluation value" through predefined consensus rules (e.g., taking the weighted average or median).

[0043] Upon completion of the value assessment, the module begins constructing the specific data structure for the "Value Code." Each Value Code is a complex digital object with a unique global identifier. Its data structure is designed as a scalable set of key-value pairs. Core fields include at least: Value Code ID (a unique string generated based on issuance time, issuer ID, and serial number), underlying data asset fingerprint (a hash value of the data asset description information, or a Merkle root hash of key metadata), issuer digital identity (a blockchain address or verifiable credential), type of income right (e.g., fixed income, floating income), total issuance shares, face value per share (optional, possibly linked to the initial assessment value), initial assessment value (the benchmark value per unit share), value adjustment parameters (a set of programmable rules, such as "when income growth exceeds 20% for two consecutive periods, the benchmark value is increased by 5%)), income distribution rules (distribution logic described by code or structured data, such as "85% of the income pool is distributed proportionally according to share ratio, and 15% is used as the issuer's management fee"), and current status (e.g., "pending issuance," "issued," "trading," "partially frozen"). The structured data object contains the following: a "deregistered" record, the Merkle root hash of the current holder register, and pointers to key on-chain events (issuance transaction hash, latest transaction hash). After this structured data object is generated, the hash value of its core part is submitted to the smart contract on the blockchain as a "minting" request.

[0044] The "Revenue Rights Issuance Contract" in the smart contract engine module is responsible for receiving minting requests and creating value codes on the blockchain. This contract first verifies the issuer's permissions and signature, confirming the validity of the core hash of the submitted value code and the on-chain notarization of the relevant evaluation report. Subsequently, the contract performs a final verification based on pre-defined business rules (such as whether the issuer's margin is sufficient and whether the underlying assets have been repeatedly issued). After all verifications are passed, the contract will "mint" a set of digital certificates representing the total share of the revenue rights on the blockchain. These digital certificates typically conform to fungible or non-fungible token standards and are bound to the ID of the backend value code data structure. At this point, the value code's status is updated to "issued," and the issuance transaction hash is recorded. The entire issuance process, from application submission to on-chain confirmation, is driven by system automation, greatly improving the efficiency of the lengthy review, contract drafting, and rights registration processes required in the traditional model.

[0045] Once a Value Code is successfully issued and enters the "Issued" state, it becomes tradable. The issuer can choose to hold all shares or sell some or all shares through the system's built-in trading market. The user interaction and monitoring service module provides a trading front-end for both issuers and investors. Issuers can create sell orders (pending orders), setting the selling shares, unit price (which can be a fixed price or a floating pricing model), order validity period, etc. While some advanced strategy parameters may be processed by the privacy protection module, basic order information such as asset type, remaining term, and historical performance summary will be publicly available to potential investors. Investors can browse the market through the trading front-end and discover Value Code investment opportunities of interest based on various filtering criteria (such as underlying asset industry, remaining term, expected rate of return, and issuer rating).

[0046] The privacy-preserving transaction and settlement module plays a crucial role in the transaction matching phase. While traditional public order books are transparent, they may expose traders' strategic intentions. Therefore, the system supports enhanced privacy transaction modes. For example, in the "reserve price not disclosed" mode, when a seller places an order, they can choose not to disclose their minimum acceptable price (reserve price), but instead generate a commitment using privacy-preserving computation techniques along with other order information. When a buyer makes a bid, their bid is similarly encrypted or a commitment is generated. The "transaction matching contract" in the smart contract can run a secure comparison protocol without decrypting the prices of both parties to determine whether the buyer's bid commitment is higher than the seller's reserve price commitment. Only when the conditions are met is the matching successful, and in the subsequent settlement phase, the necessary price information is revealed in a controlled environment (e.g., multi-party computation involving both parties and the system) to complete the fund settlement. This mode protects the price strategy privacy of both parties while ensuring the fairness and accuracy of the matching results.

[0047] After a successful transaction matching, the system enters the clearing and settlement process. The "transaction contract" in the smart contract engine module is triggered. This contract first locks the corresponding purchase funds (which may be digital fiat currency, stablecoin, or compliant digital RMB) in the buyer's account and the value code shares to be sold in the seller's account. Subsequently, the contract calls the privacy-protected transaction and clearing module to perform the final clearing and settlement calculation. Even in open-price transactions, the module can perform homomorphic encryption operations on transaction amounts, fees, etc., ensuring that nodes participating in the clearing calculation cannot know the plaintext amount, but can verify the correctness of the calculation. Finally, the contract atomically executes the transfer of funds from buyer to seller and the transfer of value code shares from seller to buyer on the blockchain. The record of the change of ownership is permanently written to the blockchain, the "current holder register" in the value code data structure is updated, and the latest transaction hash is recorded. This process ensures that the transaction is "transaction as settlement, settlement as payment," eliminating the settlement risks and settlement delays common in traditional over-the-counter transactions.

[0048] One of the core functions of the Value Code during its lifespan is to periodically generate and distribute revenue. This is achieved through close collaboration between the off-chain operational data access and verification module and the "revenue distribution contract" in the smart contract engine module. The triggering of revenue distribution depends on the actual operational data of the underlying data assets, such as monthly call fees for data API services, aggregated authorization fees for per-use data models, or advertising revenue generated based on data. This data naturally exists in off-chain enterprise payment systems, cloud service platforms, or third-party payment channels.

[0049] The core task of the off-chain operational data access and verification module is to act as a reliable bridge connecting real off-chain data with on-chain smart contracts, i.e., a decentralized oracle network. For each underlying data asset corresponding to a value code, the system will pre-set one or more certified data source addresses (such as official, digitally signed revenue reporting API interfaces from data service providers). At the end of each revenue distribution period (e.g., the end of each month), an oracle network composed of multiple independent nodes will be activated. Each node independently initiates a request to the pre-set data source to obtain the total revenue data of the target data asset within that period. These nodes may be run by the system operator, third-party data centers, reputable community organizations, etc. After obtaining the raw data, the nodes will parse and clean it according to a unified format specification and attach their own digital signature.

[0050] To prevent malicious actions by a single node or data source tampering, the module employs a consensus mechanism to confirm the data ultimately uploaded to the blockchain. For example, a "median consensus" approach can be used: all nodes submit their acquired and signed revenue values ​​to an off-chain aggregate contract or directly to the blockchain. The system then takes the median of these values ​​as the final valid value. Alternatively, different nodes can be assigned different reputation weights using a weighted average. Only data confirmed by consensus will have its hash value or key value formally submitted to the blockchain, triggering an on-chain "revenue data verified" event. This multi-node verification architecture significantly enhances the ability to resist single points of failure and data source fraud, ensuring that the data input into the smart contract is authentic and trustworthy.

[0051] Once the "Revenue Data Verified" event occurs on the blockchain, the "Revenue Distribution Contract," which has been in a listening state, is immediately activated. This contract reads the total verified revenue amount contained in the event and automatically calculates the distribution based on the "Revenue Distribution Rules" stored in the corresponding value code data structure. The distribution rules can be very complex; for example, first, a platform service fee (e.g., 2%) is deducted from the total revenue, then a certain operating and management fee (e.g., 10%) is paid to the issuer, and the remaining "distributable net revenue" is then distributed proportionally according to the share of all circulating value codes, calculating the revenue amount due to each share. The contract automatically executes this calculation logic.

[0052] After calculation, the revenue distribution contract does not directly hold fiat currency funds. It generates a revenue distribution list based on the current value code holder register and triggers interaction with a compliant payment channel. This payment channel may be a permissioned blockchain gateway connected to a traditional bank payment system, or it may be an on-chain asset custody contract operated by a licensed payment institution. The contract sends distribution instructions to the payment channel, which then executes the actual transfer of funds from the revenue co-management account to the designated receiving accounts of each investor. Each successful distribution generates a distribution record transaction on the blockchain, updates the relevant status information of the value code (such as accumulated distributed revenue), and can serve as a basis for investor taxation or auditing. The entire revenue distribution process, from data acquisition, verification, calculation to payment triggering, is fully automated, requiring no manual intervention from the issuer or platform, ensuring the timeliness, accuracy, and transparency of the distribution. The core of revenue distribution lies in quantifying the 'marginal value of data elements'. The system introduces Milgrom's information value equation. This assumes that without the participation of this data value code, the business system... The prior maximum expected return is : When the signal provided by the value code is introduced Afterwards, the system's posterior maximum expected return is increased to : , , Represents a set of actions based on data-driven decisions; This indicates an uncontrollable market environment. This represents the utility output of a specific decision under a specific state. It also represents the data holder's percentage of the benefit. Strictly adhere to marginal contribution: This equation solves the mathematical problems of 'how much data assets are worth' and 'how to distribute the money' from a game theory perspective.

[0053] The lifecycle management of the value code is also automatically driven by smart contracts. Besides regular transactions and revenue distribution, the value code's state automatically changes according to business rules. For example, the "state management contract" continuously monitors the lifespan of each value code. When the value code's expiration date arrives, the contract automatically changes its state from "in circulation" to "expired," triggering a possible final revenue distribution and principal return process (if the revenue right design includes a principal return clause). Furthermore, the contract can monitor the status of the off-chain data source bound to the value code. If valid revenue data cannot be obtained through the oracle network for several consecutive periods, or if the obtained data is zero and there is no improvement after the issuer's appeal period, the contract may automatically mark the value code's state as "abnormal" or "defaulted" according to preset rules, triggering the corresponding liquidation or insurance claim process (if insured). This event-based automated state management makes rights management more intelligent and rigorous. In the secondary transaction matching of revenue rights, the system constructs a non-cooperative game model using the Nash Algorithm to lock in the optimal transaction price. (Definition of transaction participants) Utility functional : , Indicates the participating parties Bidding strategy; Indicates except The strategy vectors of other participants; It is the probability distribution function of the transaction; This represents the transaction execution cost (including GAS fees and privacy computation overhead). The system scheduling engine iteratively optimizes to find a solution that satisfies: Nash equilibrium solution vector Ownership of the transaction contract changes only when all participants reach the Nash equilibrium point. This prevents malicious manipulation or hedging transactions at the underlying algorithmic level, ensuring that the price discovery function of data asset revenue rights is genuine and efficient during the transfer process.

[0054] The user interaction and regulatory service module provides a unified access point for all participants. For data asset holders and investors, this module offers an intuitive web dashboard displaying their value code asset list, real-time valuation, cumulative returns, market conditions, and transaction history. It supports one-click issuance applications, convenient order placement / cancellation, and detailed return queries. All operations are based on interactions with blockchain smart contracts. For regulatory agencies, the system provides dedicated regulatory node access and API interfaces. After authorization, regulatory agencies can access a regulatory view, enabling them to view the total value code issuance, total transaction volume, fund flow graph, abnormal transaction alerts, and complete on-chain traceability records of any transaction or return distribution across the entire platform in a transparent manner.

[0055] The entire system's technical implementation fully considers the needs of enterprise-level applications. The blockchain layer can adopt a high-performance consortium blockchain architecture, such as FISCOBCOS or Hyperledger Fabric, optimized for node access, transaction processing speed, privacy protection, and compliance. Smart contracts employ a modular design; core contracts for issuance, transaction, allocation, and state management are independent yet coupled through standard interfaces, facilitating upgrades and maintenance. The oracle network is custom-developed using an open-source framework, ensuring its decentralized nature and security. The privacy computation module can integrate mature libraries for secure multi-party computation, homomorphic encryption, or zero-knowledge proofs, offering optional features for both transacting parties. The front-end application adopts a responsive design, supporting desktop and mobile access.

[0056] The specific implementation of this invention demonstrates a complete, closed-loop digital management and trading process for data asset revenue rights. By creatively defining and using the "value code," a dynamic digital rights certificate, and constructing an automated contract system, a trusted data input mechanism, and privacy-enhancing trading facilities around it, this system effectively addresses the core pain points currently faced in the marketization process of data elements, such as inconsistent standards, inefficient management, difficult transactions, and lack of trust in the key form of revenue rights. It provides a solid technical infrastructure for building a healthy, active, and compliant data asset trading ecosystem.

[0057] The above description is only a preferred embodiment of the present invention. It should be noted that for those skilled in the art, several improvements and modifications can be made without departing from the principle of the present invention, and these improvements and modifications should also be considered within the scope of protection of the present invention.

Claims

1. A data asset revenue rights management and trading system based on value codes, characterized in that: Includes the following modules: The value code generation and management module receives income right issuance applications submitted by data asset holders, assesses the income potential of the underlying data assets according to a preset value assessment model, and generates a unique "value code" to identify the income right. The data structure of this value code includes at least: a unique income right ID, a hash indicator of the underlying data asset, the issuer's identity, the type of income right, the total equity share, the initial assessed value, value adjustment parameters, income distribution rules, the current status, and historical transaction hashes. The value code is stored on the blockchain in the form of a digital certificate. Its key feature is that the value code is defined as a human value measurement standard, and its initial assessed value... Generated using a log-normal value mapping model: In the formula, It is a comprehensive multi-dimensional quality indicator for data assets. For value density variables, This represents the mean logarithmic value of this category of data assets. This is the return volatility parameter, used to characterize the long-tail characteristics of the return potential of data assets; The smart contract engine module, deployed on the blockchain, incorporates various standardized contract templates to automatically execute operations associated with the value code. These primarily include: a revenue rights issuance contract, responsible for verifying issuance conditions and minting value code certificates; a revenue rights trading contract, responsible for order placement, matching, transaction confirmation, and the transfer of value code ownership; a revenue distribution contract, which automatically calculates and distributes revenue to the current rights holder based on predefined rules (such as proportional or based on usage volume) and off-chain verified operational data; and a state management contract, responsible for automatically triggering value code state changes based on business rules (such as expiration or default). The off-chain operation data access and verification module, as a blockchain oracle service, is responsible for securely obtaining the actual operation data of the underlying data assets from off-chain data sources (such as data service platforms and payment systems), such as the number of API calls, data usage, and the actual amount of revenue generated. After verifying and formatting the obtained data, this module securely transmits it to the on-chain smart contract as the basis for triggering revenue distribution, adjusting value code evaluation parameters, or judging contract conditions. The privacy-protected transaction and settlement module integrates privacy computing technology to protect commercially sensitive information during transaction matching and settlement. In the transaction intention matching stage, it can adopt ciphertext-based matching technology. In the transaction settlement stage, it supports the use of homomorphic encryption and other technologies to perform encrypted calculations on transaction amounts, transaction fees, etc., to ensure the correctness of the settlement process without disclosing plaintext information. This module works in conjunction with the smart contract engine to ensure that transactions under privacy protection are ultimately completed reliably on-chain for settlement and ownership transfer. The user interaction and regulatory service module provides interactive interfaces such as Web and API for different roles such as data asset holders, investors, and regulatory agencies, enabling operations such as issuing, browsing, trading, and viewing revenue rights. At the same time, it provides a regulatory interface, allowing regulators to conduct thorough audits of on-chain transaction records, value code status, and fund flows based on their permissions, ensuring the compliant operation of the system.

2. The data asset revenue rights management and trading system based on value codes according to claim 1, characterized in that: In the value code generation and management module, the value assessment model adopts a multi-factor dynamic weighted algorithm. Its input parameters include at least: data asset quality score, historical revenue data, market demand heat index, compliance rating, and real-time or near real-time operation indicators provided by the off-chain operation data access module. The "value adjustment parameters" of the value code are a set of programmable rules that allow the benchmark value adjustment of the rights represented by the value code to be automatically triggered based on specific operational events verified on the chain (such as the daily call volume exceeding the threshold), so as to realize the dynamic linkage between the value code and the underlying asset operation status.

3. The data asset revenue rights management and trading system based on value codes according to claim 1, characterized in that: In the smart contract engine module, the execution flow of the revenue distribution contract is designed to be event-driven. When the off-chain operational data access module pushes verified revenue cycle data to the blockchain, a "revenue arrival" event is triggered. Upon receiving this event, the revenue distribution contract automatically reads the current value code holder register and the preset distribution ratio, calls the payment channel contract or interfaces with compliant payment institutions to complete the automatic transfer of revenue, and writes the distribution record as a transaction to the blockchain, updating the value code's status information. The revenue distribution contract incorporates a distribution algorithm based on Milgrom's information value equation, with its distribution weights... It depends on the information carried by the value code. Overall business effectiveness Incremental contribution: in, For adjustment coefficients, For business decisions, For utility function, This is a set of data signals that have been verified for privacy.

4. The data asset revenue rights management and trading system based on value codes according to claim 1, characterized in that: The off-chain operation data access and verification module adopts a multi-node decentralized oracle network architecture. For the same data source (such as the revenue report of a data platform), multiple independent oracle nodes obtain the data separately and aggregate and verify the data through a preset consensus mechanism (such as median or weighted average). Only data that reaches consensus will be signed and sent to the blockchain. This measure aims to prevent single-point data tampering or the provision of erroneous data and ensure the authenticity and reliability of the off-chain information input into the smart contract.

5. The data asset revenue rights management and trading system based on value codes according to claim 1, characterized in that: During the transaction matching phase, the privacy-protected transaction and settlement module supports modes such as "blind bidding" or "reserve price not disclosed." Potential buyers can submit a ciphertext of their offer processed by homomorphic encryption or a commitment scheme. Without decrypting the offer, the smart contract uses a ciphertext comparison algorithm (such as using a secure multi-party computation protocol) to determine whether it is better than the current best offer or meets the reserve price conditions set by the seller. Only at the final transaction is the necessary information disclosed in a controlled environment to complete the settlement, thereby effectively protecting the pricing strategies and other trade secrets of both parties.

6. A data asset revenue rights management and trading system based on value codes, characterized in that: The application of the system according to any one of claims 1 to 5 includes the following steps: Step 1. The data asset holder submits an application for the issuance of revenue rights to the system. The value code generation and management module calls the value assessment model, combines on-chain and off-chain data to generate a dynamic "value code" digital certificate, and completes the issuance registration on the blockchain through a smart contract. Step 2. The issuer publishes a transaction offer through the system, listing some or all of the value code equity shares for sale. Transaction information (except for sensitive and privacy-sensitive parts) is publicly available, allowing investors to discover investment opportunities. Step 3. Buyers and sellers match quotes through the privacy-protected transaction and settlement module. Under the premise of protecting the privacy of both parties' quotes, the smart contract verifies the transaction conditions and completes the matching. Step 4. After a successful transaction matching, the transaction contract and settlement process are triggered. Under the protection of privacy computing technology, the settlement of funds and value code shares is completed. The smart contract automatically executes the change of ownership of the value code and permanently records the transaction results on the blockchain. Step 5. During the revenue cycle, the off-chain operation data access and verification module continuously acquires and verifies the operation revenue data of the underlying data assets, and periodically triggers blockchain events with the verified data; Step 6. The revenue distribution contract in the smart contract engine listens for the events generated in Step 5, automatically calculates the revenue due to each equity holder according to the distribution rules encoded in the value code, and drives automatic payment to complete the revenue distribution; Step 7. When the value code's lifecycle ends (e.g., expires, or the underlying asset becomes invalid), the state management contract automatically marks its status as "cancelled," and the relevant records are permanently stored on the blockchain for auditing.

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